Six Major State Banks Omit Private Banking Data in 2026 Interim Reports

In the first half of 2026, the six major state-owned banks—Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank of China—collectively omitted private banking client numbers and asset data from their interim reports for the first time. Previously, ICBC stopped publishing private banking client numbers in late August 2025, followed by Agricultural Bank of China, Bank of China, and China Construction Bank in March 2026. In the latest interim reports, Bank of Communications and Postal Savings Bank also ceased disclosing such data. Since their listings, all major state-owned banks except Postal Savings Bank, which started private banking later, had disclosed private banking client numbers and asset information in prior periodic reports.

Several state-owned banks retained private banking sections in their interim reports, with some merging the information into descriptions of clients with assets above RMB 500,000. Bank of Communications outlined its digital and integrated private banking client management, as well as the application of artificial intelligence in wealth management, and mentioned activities such as "Wenguan Gujin," "Zoujin Mingxiao," and "Shuxiang Jiaohang." Postal Savings Bank described its "Dingding" activity system built around the multi-dimensional service needs of high-net-worth clients—covering personal, family, enterprise, and social aspects—and held over 300 events during the reporting period. It also promoted a centralized operating model for private banking centers in key cities. As of the end of the reporting period, its Fujia-and-above clients reached 7.4762 million, up 10.59% from end-2025.

Most joint-stock banks and city commercial banks continued to disclose private banking data. China Merchants Bank reported 6.4074 million Jin Kwai Hua-and-above clients as of end-June 2026, up 8.02% from end-2025, of which private banking clients totaled 215,998, up 8.36%. Ping An Bank reported retail client assets under management of RMB 4.400227 trillion, up 3.8% from end-2025; wealth clients of 1.5279 million, including 110,900 private banking clients, up 5.0%; and private banking client asset balances of RMB 2.110209 trillion, up 6.0%. Industrial Bank reported 94,100 private banking clients as of end-June, an increase of 7,200 clients, or 8.29%, from end-2025.

Among other banks, Huaxia Bank had 23,400 private banking clients at the end of the reporting period, up 15.84% from the beginning of the year. China CITIC Bank had 104,900 private banking clients with private banking assets of approximately RMB 1.49 trillion. Bank of Ningbo had 34,491 private banking clients, an increase of 6,761 from the beginning of the year, with total financial assets of private banking clients at RMB 420.6 billion, up RMB 84.1 billion, and average assets per client of RMB 12.2 million. Bank of Jiangsu's private banking clients exceeded 20,000, growing more than 20% from end-2025.